Charter Communications adds $3.35 billion of term loans, extends maturities

By Wendy Van Sickle

Columbus, Ohio, June 2 – Charter Communications, Inc. said subsidiary Charter Communications Operating, LLC extended the maturities of and increased certain of its credit agreements, accordion to a press release.

Specifically, the borrower converted all of its term A-4 loans to term A-5 loans, borrowed an additional $2.85 billion of A-5 loans, and extended the maturity of the A-5 loans to Aug. 31, 2027.

Further, the borrower created and borrowed a new $500 million tranche of term A-6 loans maturing Aug. 31, 2028 and increased the size of its revolver by $750 million to a total capacity of $5.5 billion. The revolver has an interest rate based on SOFR rather than Libor and an extended maturity of Aug. 31, 2027.

Charter used a portion of the proceeds of the amended loans to repay all of the term A-2 and term A-4 loans and all outstanding revolving loans prior the effective date of the amendment.

After the amendment took effect, a total of $6.05 billion of term A-5 loans is outstanding with pricing of SOFR plus 125 bps. The total amounts of term B-1 loans due April 30, 2025 and term B-2 loans due Feb. 1, 2027 outstanding are $2.4 billion and $3.7 billion, respectively, with Libor-based pricing unchanged.

Charter is a Stamford, Conn.-based broadband communications company and cable operator.

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